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should I pull out

by akasha 16 March 2010 |

8 comments | Love

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I have recently sold my home "STC" and from the start the person wanting his offered a stupid amount whicxh we declined upped to a very decent level which we accepted. These people used all thier money up on serveys then decided to gazunder us funnily enough to the same stupid offer that they started with saying that surveyor found problems (we think that they used family members) should I pull out or just dig my heels in or play at thier own gasme

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153

JoeEasedale posted
People who play at gazundering are scum who have no honour.
I would put the price up, and re market. I would not deal with them whatever they offer unless it was backed up by a substantial non refundable cash bond deposit.
HOWEVER, do make sure that there is not a survey problem. Ask to see a copy.
Posted on 16 March 2010 | Love 0 loves Report
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akasha posted
unsure whether you are in the uk , we cant use the non refundable cash bond here . The only problem they found was the drains which does not warrent the reduculous price drop in fact they would never ever find a property in this county this size for the price at all
Posted on 16 March 2010 | Love 0 loves Report
153

JoeEasedale posted
See your solicitor, a document can be drawn up to agree anything you like with these people, but my experience tells me that you are wasting your time on timewasters.
If you simply put the price up to them and remarket to anybody else at the old price, they will likely just walk away or cave in. If they cave in, your solicitor can draw up a suitable document to secure a cash "good faith non refundable" payment.
Posted on 16 March 2010 | Love 0 loves Report
272

Swarbs posted
Ask to see a copy of the survey they have ordered and make sure it is from a reputable company (check what banks have the company on their survey panel). If the company is reputable, and has found problems, then you will probably have to allow the price to come down a bit. But don't just accept their offer - find out exactly what it will cost to correct the problems (ask a builder / plumber to provide a written quote) and tell them you will reduce the price by that amount. So if the surveyor says there are problems with the drains, plumber says this will cost £2,000 to put right, the price goes down by £2,000, not a penny more. If in doubt about the survey, you can always commission one yourself - it costs a bit but will be useful in negotiating with any other buyers.
If they refuse this, or don't provide you with copies of the survey, then I guess it depends on how desperate you are to sell. If you have to sell quickly for whatever reason, then you may have to accept their offer. But, if you are happy to wait a bit, and don't mind possibly losing this buyer, then tell your estate agent that you reject their new offer and want to put the house back on the market. At this point, they will probably come to their senses, realise they are likely to lose the house, and agree to either show you the survey or agree to a price reduction based on the costs of repairing the house. If you do this, you may actually even manage to find a better buyer. IMHO, this is probably what you should do anyway, as a large number of property purchases do fall through before completion, and given the behaviour of the buyer it looks like this one will fall through at some point - if you give into them on this issue you may find yourself giving in on other issues as well, like if they claim ground rent, council tax and maintenance will be too high etc.
Of course if you take this option there is a chance the buyer will just walk away and leave you as square one. I guess you would have to ask yourself how you would feel if that would happen, and how having to wait maybe another four to six months to get a new buyer (who may not be any better) would feel. Given that this buyer may not complete anyway, even if you give into them on this, you well may end up in this position anyway, so it may be better to force the issue sooner rather than later. Assuming of course that having to wait for a new buyer won't completely mess up your plans.
Posted on 16 March 2010 | Love 0 loves Report
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AshishPatel23 posted
Just say No!, if you think its worth more money and your not desperate for the money, and even if you r if u make all the estate agents awae your selling for cheap. You'll probably get a better offer that way and quickly, and don't worry about the survey fee, thats their lost.
Posted on 16 March 2010 | Love 0 loves Report
410

manzanilla posted
It depends how desperate you are to move. You must NOT prceed with another purchase if this one falls through or you could be heading for a disaster.
But I agree with the others - ask to see a copy of the survey. And do your own research on local house sale prices so you can prove to them that it is cheap already.
Posted on 16 March 2010 | Love 0 loves Report
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MikeGG1 posted
Check out the survey, check out the cost of any necessary repairs, check local house prices again and then decide.
If they won't let you see the survey, it usually means one of 3 things. Either the problem doesn't exist or the problem is not as bad as they make out or the property has been valued at the full price regardless.
Make absolutely sure of your situation and don't offer to reduce by more than the cost of repairs.
Remember, they will lose the cost of the survey if they pull out.
Mike
Posted on 16 March 2010 | Love 0 loves Report
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akasha posted
thanks guys I think Ive got the estate agent finally working too I think I scared the hell out of her as I think she is scared witless of losing the sale. I told her that if they start this game of gazundering then we would pull out and the buyer would lose all his money he had done on the surveys and as I also found out that he wantsz to remodle the whole house running into 10's of thousands. The estate agent admitted that the surveyor added things to make it look as the house was worth next to nothing so one up I hope.
Posted on 16 March 2010 | Love 0 loves Report

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